Search results

Saw reactions to a good old-fashioned squeeze from yesterday afternoon to this morning. The cheapest-to-deliver Ten-year note against the June contract (Feb 2012 4 7/8% coupon) is in very limited supply, the Federal Reserve owns about 15% of them, causing a mad rush from dealers needing to pay...

He does now, but was a huge trader in the Ten year futures pit at the CBOT and huge on the screen when the business originally started to go there. This was the late 1980's to about 2000 or so, or whenever he became fudiciarily involved with TT. Hardy Brumfield (Harris' bro) also use the...

That bid was there starting this morning. Brumfield a seller down to 01, was about to offer 1000 at 01 in the pit, then boom 1 bid 10,000, at one point grew to 30,000 throughout the day, was pulled during Greenspan Q&A, then back again afterwards. Was hearing someone trying to unwind that...

Or if you have huge cajones like Hardy Brumfield get long 7,000 notes in the pit from 111-06.5 to 111-10 right before a huge ten-year auction and sell them around 111-13 and higher. Worked out well for him today.

Hit the nail right on the head, and don't forget about Fannie Mae and Freddie Mac. Did you read the Paul Volcker article in the Washington Post couple weeks ago? It was an editorial called "Skating on Thin Ice" or something like that. Makes some of the exact same points that we could be in...

It seemed like at some point the Treasury was going to reissue the 30-year regardless because of the "all-out" denial type rhetoric that John Snow and others used. They just wanted to keep long term yields as low as possible before we actually start to see "real" inflation. Tomorrow could...

Yes. Go to www.bondsquawk.com.

Bring it on baby. As for surpluses, those were simply a function of our bubble economy in the late 90's and excessive tax collections which no longer exist since that money remains in our pockets through tax cuts. It was nuts on the floor today, cash 30-yr was down about 5 points at its lows...

Just so you know the Bonds are only closed on the electronic between 4pm and 7pm every day, you read the hours wrong. Thus, they are open 21 hours a day, and then the pit opens at 7:20am and closes at 2:00pm, with settlements for the day at 4pm going off of the pit settlement at 2pm. As...

Sorry didn't explain the 2:1 NOB. Could be interesting next week with inflationary data. Couple locals were talking to Rick Santelli last Thursday and they were asking the questions, "Why is the yield curve as flat as it is?". A couple very interesting answers that included: the long end (10...

Big paper seller in the pit in the last minute (sold 2000) yesterday in the T-Notes, a big Japanese account. Locals bought it from him down at 11.5 and bid it hard after the close, also a couple big 2:1 NOB's traded on the close, which helped the bid in the tens, along with stocks going down...

they have a website?

Thats because the customers used the floor today. Ten year note was a thousand up in the pit, half a tick wide. All of the liquidity on Eurex US is simply a result of the liquidity on eCBOT wtih 20% originating from the pits at the Board. I'm not knocking the screen at all, but liquidity is...

10 years led the way down before the FOMC minutes, big upstairs local, won't name names, but he is the brother of someone that is kind of big at TT. He started selling 111-13 with his guy in the pit (about 5 minutes before the FOMC minutes) and took it down to 11, minutes came out, spike down...

Wow, looks like the year is over for the interest rate markets. Pretty non-eventful after the FOMC. Volatility came off in the ten year at least after the statement was released. Some big mortgage guys started to get out of some of their lower strike puts in the Mar (108), only around 5k or...

Another volatile day in treasuries. Good rally early this morning only to see everything fall apart into the afternoon. Big profit taking again in the feb 112 and march 113 calls in the ten year options (mortgage guys taking their hedges off). Good buyer in some out of the money puts (mar...

Looks like the curve flattener is back on again. Pretty good action today with the dollar doing better and unwind of that ten year/bund spread again, supposedly around 100k contracts this morning. Had some big paper rolling calls up another strike in the ten year options today in the Jan from...

And those same days the CBOT traded about 2.4 million ten years (in one session between pit and screen) and almost a million five years. I think it was great Eurex US drove down the fees, but anyone that thinks customers will leave a liquid market like the treasuries at the CBOT is only kidding...

The floor guys (who trade the screen too) have been consistently looking for slightly under on the non-farm payrolls (and successfully pushed it higher for the most part) and were right until the last one, when we headed way lower in the long end. I think the last one they were looking for at...

That's kind of cool with the counterparty thing on TT, only if they could show who is on the bid/offer before the trade occurs, probably will some day. Does TT do the same thing for CBOT treasury futures? I think the curve steepener the last few days was really just some of the big Asian...